Mobile Lid acquired 30% interest in Phone Lid for $180,000 on 1 uly 2017 Protits...
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Mobile Lid acquired 30% interest in Phone Lid for $180,000 on 1 uly 2017 Protits at Oridends for Phone l.id for years endes 30 Jase 2018 10 2019 wer as tolicien Probt before tax Divideries paid 2018 2015 $200.000 $170,000 DATOMER $50,000 360.000 180,000 530.000 Required: Prepare all necessary journal entries in the records of Mobile Lid in relation to its investriot i the associate, Phone Lid based on the above information. Assume thete are sutticient net assets for dividend distribution and Mobile Lid does not prepare consolidated financia statements
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